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Manila Bulletin devider Lifestyle devider LOOK: This cosmetics company is filing for bankcruptcy

LOOK: This cosmetics company is filing for bankcruptcy

Published Jun 17, 2022 11:51 am

Revlon houses over 15 brands, too!

Just when we think we're seeing the light at the end of the tunnel, with most companies hanging on tight the past few years due to pandemic challenges, here comes another company that has been reported to file for bankcruptcy.

Revlon

In a Bloomberg report, cosmetics company Revlon is filing for bankcruptcy. Their reason? Supply chain challenges and a big debt that came with it. According to the same report, Revlon's shares dropped 53 percent, and it's considered to be one of the biggest one-day drop for the brand. But, apparently, they have been experiencing challenges even before the pandemic, competing with other big and small businesses in the same industry.

Debra Perelman, chief executive officer, shared with the site, that their products were doing well, but "supply chain challenges are putting pressures on our ability to meet this demand" with inflation not helping as well. Revlon houses over 15 brands. Some of them you may be familiar with such as Elizabeth Arden, Elizabeth Taylor, and Almay, American Crew, Juicy Couture, All Saints, Mariah Carey, to name a few.

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